Defendant Name:
Archipelago Securities, L.L.C.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Intercontinental Exchange, Inc.
SIC Code:
6231
CUSIP:
45866F10
Document Reference:
34-72065
Document Details
Legal Case Name
In the Matter of New York Stock Exchange LLC, NYSE Arca, Inc., NYSE MKT LLC f/k/a NYSE Amex LLC, and Archipelago Securities, L.L.C.
Document Name
Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Sections 19(h)(1) and 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
Document Date
01-May-2014
Document Format
Administrative Proceeding
Allegation Type
Other
Document Summary
On May 1, 2014, the SEC instituted administrative and cease-and-desist proceedings against New York Stock Exchange LLC, NYSE Arca, Inc., NYSE MKT LLC, and Archipelago Securities, L.L.C. According to the SEC: "This matter primarily involves a number of episodes in which the Respondent Exchanges engaged in business practices without having effective exchange rules in place, or operated in a manner that did not comply with the exchange rules then in effect or the federal securities laws. In addition, Archipelago Securities L.L.C. ('ArcaSec'), the wholly-owned routing broker for the Respondent Exchanges, failed to establish, maintain, and enforce policies and procedures in connection with error account trading that were reasonably designed to prevent the misuse of material, nonpublic information by the broker or any person associated with the broker. ArcaSec also violated the Exchange Act and rules thereunder by effecting transactions in securities without sufficient net capital and failing to provide timely notice of the net capital deficiency to the Commission."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Monetary Penalties:
Civil Penalty
Individual:
Shared:
$4,500,000.00
Shared with: New York Stock Exchange LLC; NYSE Arca, Inc.; NYSE Amex LLC
Other Defendants in Action:
